Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of fair value of financial instruments measured on a recurring basis

The fair value of financial instruments measured on a recurring basis is as follows:

May 9, 2022	Level 1		Level 2		Level 3		Total
Liabilities:
Contingent consideration	$	—	$	—	$	36,140,407	$	36,140,407

June 30, 2022	Level 1		Level 2		Level 3		Total
Liabilities:
Contingent consideration	$	—	$	—	$	35,280,407	$	35,280,407
Total	$	—	$	—	$	35,280,407	$	35,280,407

Schedule of fair value of the contingent consideration remeasured

The fair value of the contingent consideration was remeasured at June 30, 2022. The fair value of the financial instruments as of June 30, 2022 is as follows:

	Contingent Consideration
Balance at December 31, 2021	$	—
Initial estimate		36,140,407
Gain in fair value of contingent consideration		(860,000	)
Balance at June 30, 2022	$	35,280,407

Schedule of fair value measurements of contingent consideration recurring include significant unobservable inputs

The recurring Level 3 fair value measurements of contingent consideration for which a liability is recorded include the following significant unobservable inputs:

			As of June 30, 2022	As of May 9, 2022
	Valuation Methodology	Significant Unobservable Input	Weighted Average (range, if applicable)	Weighted Average (range, if applicable)
Contingent Consideration	Probability weighted income approach	Discount rate	13.2%	11.7%
		Revenue Discount rate	20.9%	20.8%